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(From Business Line)
Byline: Jayanta Mallick
Kolkata, Jan. 10 - THE Securities and Exchange Board of India (SEBI) has stalled the open offer proposal by the new acquirer of Ondeo Nalco India Ltd. The market regulator has asked the consortium of investors lead by Goldman Sachs and the managers to the offer, ICICI Securities, not to proceed with it.
The new acquirers had planned to open the offer on January 15 and had filed the letter of offer following a public announcement.
According SEBI sources, the fresh offer effectively called into question the provisions of the takeover regulations as also the regulator's earlier verdict on an open …